How well does Perth rank on housing affordability?

According to the Real Estate National Institute of Australia (REIA) Real estate market facts for the quarter of December 2021, PerthPerth, TAS Perth, WA had the most affordable median home sale price and the third-lowest median unit price among capital markets.

Analyzing the REIA report, Real Estate Institute of Western Australia (REIWA) Chairman Damian Collins noted that with a median home sale price of $525,000, Perth, with Darwin ($592,500), are the only capitals with a lower median home sale price over $600,000.

Perth’s affordability is further highlighted when placed side-by-side with the other capitals in this table:

Capital city

Median house price

Perth

$525,000

Darwin

$592,500

Adelaide

$600,000

Brisbane

$711,000

Hobart

$775,000

Canberra

$950,000

melbourne

$1.125 million

sydney

$1.6 million

Mr Collins further noted that the huge price gap is most evident when Perth’s median sale price is compared to Sydney, which currently has the highest median house price in the country.

Data from the REIA report shows that one median priced house in Sydney is equivalent to three median sale price houses in Perth.

In terms of unit markets, the REIA report found Perth to be the third most affordable capital, at $415,000, followed by Adelaide at $412,500 in second place. Darwin was reported as the most affordable at $400,000.

Focusing on REIA data for the unit markets below, the REIWA Chairman highlighted how the median unit prices for Hobart, Canberra, Melbourne and Sydney are more expensive than the median selling price of Perth homes. — proof, Mr. Collins asserted, that ownership is not impossible. dream for West Australians.

Capital city

Median unit price

Darwin

$400,000

Adelaide

$412,500

Perth

$415,000

Brisbane

$443,900

Hobart

$573,000

Canberra

$576,500

melbourne

$692,000

sydney

$802,255

About the Author

Noemi Pamintuan-jara

Noemi is a journalist for Smart Property Investment and Real Estate Business. She has extensive experience writing for the business, health and education sectors. Noemi is a contributing author of a summary published by the American Public Health Association and Best Practices in Emergency Pedagogical Methods in Germany. She shares copyright ownership of an instructional video for pharmacists when communicating with deaf patients. She attended De La Salle University where she obtained a double degree in psychology and marketing… Read more

How well does Perth rank on housing affordability?




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Last update: April 05, 2022

Posted: April 06, 2022